TeraWulf is looking to expand into the red-hot AI space as Bitcoin mining difficulty increases and profitability shrinks.
Mining news
North America faces energy challenges as cryptocurrency mining and AI data centers push electricity demand to unprecedented levels.
Many mining stocks are on track to close the year in the red, even with Bitcoin’s gains in 2024.
It’s beginning to look like a race as miners scramble to buy Bitcoin before the price keeps rallying.
Hut 8 has acquired 990 Bitcoin for $100 million, boosting its total BTC holdings to over $1 billion as institutional adoption of cryptocurrency accelerates.
The new hardware could ultimately host a theoretical algorithm with the potential to transform proof-of-work.
Bitcoin’s path to $100,000 is supported by strong institutional interest, macroeconomic trends, and miner confidence.
Crypto mining hardware typically has a lifespan between 3-5 years on average and must be periodically upgraded to maintain profitability.
Bitcoin celebrates 12 years since its first halving event, with block rewards shrinking to 3.125 BTC and miners adapting to higher difficulty amid rising prices.
The Russian Federation Council’s approval of the new crypto taxation regime comes amid Bitcoin hitting all-time highs against Russia’s national currency, the ruble.